Lloyds TSB has agreed a £12.2bn takeover of HBOS creating a new super bank headed by Sir Victor Bla...
Lloyds TSB has agreed a £12.2bn takeover of HBOS creating a new super bank headed by Sir Victor Blank and Eric Daniels as chairman and chief executive respectively. Following this latest news in the banking saga, the FTSE 100 opened at 4894.80 compared to yesterday's close of 4912.40. Under the new structure, Lloyds TSB is offering the Halifax owner’s shareholders 0.83 Lloyds shares for every HBOS share held, valuing the country’s largest mortgage lender at about 232p a share. However, there’s no room at the top for HBOS chairman Lord Stevenson and boss Andy Hornby. Some fear around 40,...
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